The entry to close the Depreciation Expense account would cause:
A)the Capital account balance to increase.
B)the Capital account balance to decrease.
C)the Depreciation Expense account balance to decrease.
D)None of these is correct.

Question

Quizplus · Accepted Answer

The entry to close the Depreciation Expense account would debit the Depreciation Expense account and credit the Accumulated Depreciation account. This would cause the Depreciation Expense account balance to decrease.

The Entry to Close the Depreciation Expense Account Would Cause